Why Jumia Shares Are Rising Today

Jumia Technologies AG JMIA is trading significantly higher Tuesday after the company announced the highlights of its 2021 Black Friday campaign.

Jumia said that gross merchandise value reached $150 million, representing an increase of 30% year-over-year. Orders totaled 4.3 million, representing an increase of 39% year-over-year.

Jumia said it had a record of almost 40 million unique visitors on its platforms during the shopping period, representing an increase of 27% year-over-year.

"Having introduced the Black Friday shopping festival concept in Africa in 2012, it has now become a much-awaited campaign for our consumers, sellers and ecosystem partners," Jumia said.

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Jumia is the pan-African e-commerce platform, consisting of a marketplace, which connects sellers with consumers.

JMIA Price Action: Jumia has traded as high as $69.89 and as low as $9.94 over a 52-week period.

The stock was up 21.40% at $13.44 at time of publication.

Photo: courtesy of Jumia.